Gold Price Today: If you’ve been keeping an eye on the gold market, you might have noticed a slight dip in prices recently. After a period of high volatility, the precious metal took a step back this Tuesday, reflecting a shift in global economic sentiments.
So, what’s behind this downward trend? Market experts point to two key factors. First, the US dollar has held its ground, showing renewed strength. Since gold is priced in dollars, a stronger greenback makes it more expensive for holders of other currencies, which can dampen demand. Second, there are signs of easing trade tensions between the US and China. When geopolitical risks calm down, investors often feel less urgency to move their money into traditional safe-haven assets like gold.
This sentiment was clearly reflected in the trading numbers. On the domestic front, gold futures for December delivery on the Multi Commodity Exchange (MCX) saw a decline, settling lower. Mirroring this trend, global spot gold also traded lower.
For those looking to buy jewellery or invest, here’s a snapshot of how gold is faring in major Indian cities today. Remember, these are retail prices and can vary slightly from jeweller to jeweller based on making charges and local taxes.
Today’s Gold Rates in Your City (per gram)
Delhi: 22K at ₹11,240 | 24K at ₹12,251
Mumbai: 22K at ₹11,225 | 24K at ₹12,246
Bengaluru: 22K at ₹11,225 | 24K at ₹12,246
Chennai: 22K at ₹11,250 | 24K at ₹12,273
Kolkata: 22K at ₹11,225 | 24K at ₹12,246
Hyderabad: 22K at ₹11,225 | 24K at ₹12,246
Ahmedabad: 22K at ₹11,230 | 24K at ₹12,251
Jaipur: 22K at ₹11,240 | 24K at ₹12,251
Bhubaneswar: 22K at ₹11,225 | 24K at ₹12,246
Kanpur: 22K at ₹11,240 | 24K at ₹12,251
Answering Your Questions: “People Also Ask”
When gold prices move, savvy shoppers and investors naturally have questions. Here are answers to some of the most common queries.
Q: Why do gold prices change every day?
A: Gold prices are incredibly dynamic. They are influenced by a complex mix of international factors like the strength of the US dollar, global interest rates, and geopolitical instability, as well as domestic factors like import duties and local demand during festivals and wedding seasons.
Q: Is now a good time to buy gold?
A: This depends entirely on your financial goals. A price dip can be an attractive entry point for long-term investors. However, for those buying for an immediate occasion like a wedding, the focus is often less on timing the market and more on the necessity of the purchase. It’s always wise to consider your investment horizon and consult with a financial advisor.
Q: What is the difference between 22K and 24K gold?
A: The “K” stands for karat, which indicates the purity of the gold. 24K gold is 99.9% pure, making it softer and more malleable—it’s ideal for investment in the form of coins or bars. 22K gold is 91.7% pure, alloyed with other metals like copper or silver to make it stronger and more durable, which is why it is preferred for jewellery.
Q: How are MCX gold prices and local jeweller prices different?
A: The MCX price is essentially the wholesale or “bullion” price of pure (24K) gold before it is crafted. The price at your local jeweller includes additional costs such as manufacturing charges (making charges), GST, and the jeweller’s margin, which is why it is always higher than the MCX rate.
Fact Check & Disclaimer: The gold prices quoted are representative market rates for a specific day and are sourced from reliable commodity tracking sources. Prices for jewellery will include making charges and can vary between retailers. This article is for informational purposes only and should not be considered financial advice. Readers are encouraged to verify the latest prices with their local jewellers before making any purchase.